İbn Haldun Üniversitesi

MA in Economics (in English)(non-thesis)

Why Economics at Ibn Haldun University?

The scope of economics, which mainly focuses on the studies of the use of scarce resources to meet human needs, has expanded its coverage from analyses of the economic behavior of individuals and firms to the analysis of the economic behavior of countries and international institutions. Economic behavior has become a subject that requires analysis at the global level due to the rapid development of information and communication technologies in the 1990s. Companies operating at the global level prepare their strategies with optimization at the global level. This reduces the constraints imposed on the national level of economic behavior and requires a global structure that allows for the free movement of goods and services, as well as factors of production such as capital and labor. Although the global crisis of 2008 has some consequences that will cause the effects of nation-states on economic behavior to rise again, economic globalization is still continuing.

These developments at the global level have increased the importance of economics as a science. The analysis of labor, money, and capital markets and developments in goods and services markets, as well as the interaction between these markets, is of vital importance in understanding the policies that need to be developed at the national and global level. In this respect, universities have a significant role. The rising of human resources with knowledge and experience of basic concepts of economy, methods of analysis, and economic policies will contribute to the sustainable development of the countries and the continuation of their competitive advantages. It is possible to improve human resource potential in this area through graduate programs.

İbn Haldun University’s Master of Arts in Economics program is expected to contribute to students coming from different undergraduate majors to gain the ability to understand and evaluate the changes in local and global economics. In addition to the core courses for two years, a variety of elective courses will give the participants the opportunity to apply theory to the current economic issues and also prepare the theses. As the medium of instruction in the program is English, the graduates are expected to be employed at national as well as international organizations.

About The Program

Head of The Department:

Prof. Dr. Rasim Özcan

Scope of the Program:

Our graduate program offers theoretical courses such as microeconomics, macroeconomics, research methods and econometrics to gain the ability to understand and interpret national and global economic events as well as sectoral courses that will provide specialization in areas such as energy, environment, foreign trade, finance, real estate, infrastructure and transportation.

Application Requirements
1st Semester
Code Course Name Hours  Credit ECTS
 Theory  Practice
ECON 501 Research Methods 3 0 3 8
ECON 503 Microeconomic Analysis 3 0 3 8
ECON 505 Macroeconomic Analysis 3 0 3 8
ECON … Departmental Elective Course 3 0 3 8
Total 12 32
2nd Semester
Code Course Name Hours  Credit ECTS
 Theory  Practice
ECON 504 Microeconomic Theory 3 0 3 8
ECON 506 Macroeconomic Theory 3 0 3 8
ECON 508 Econometrics 3 0 3 8
ECON … Departmental Elective Course 3 0 3 8
Total 12 32
3rd Semester
Code Course Name Hours  Credit ECTS
 Theory  Practice
ECON 595 Project 0 0 0 15
ECON … Departmental Elective Course 3 0 3 8
ECON … Departmental Elective Course 3 0 3 8
ECON … Departmental Elective Course 3 0 3 8
Total 9 39
Grand Total 33 103
Code Course Name Hours  Credit ECTS
 Theory  Practice
ECON 501 Research Methods 3 0 3 8
ECON 503 Microeconomic Analysis 3 0 3 8
ECON 504 Microeconomic Theory 3 0 3 8
ECON 505 Macroeconomic Analysis 3 0 3 8
ECON 506 Macroeconomic Theory 3 0 3 8
ECON 508 Econometrics 3 0 3 8
Code Course Name Hours  Credit ECTS
 Theory  Practice
ECON 510 International Economics 3 0 3 8
ECON 511 Innovation Economics 3 0 3 8
ECON 512 Game Theory 3 0 3 8
ECON 513 Monetary Economics 3 0 3 8
ECON 514 Industrial Economics 3 0 3 8
ECON 515 Energy Economics 3 0 3 8
ECON 516 Public Economics 3 0 3 8
ECON 517 Time Series Econometrics 3 0 3 8
ECON 518 Panel Data and Cross Section Models 3 0 3 8
ECON 519 Environmental Economics 3 0 3 8
ECON 520 Development Economics 3 0 3 8
ECON 521 Transportation Economics 3 0 3 8
ECON 522 Real Estate and Urban Economics 3 0 3 8
ECON 524 Economic Jurisprudence in Islam 3 0 3 8
ECON 525 Islam and Political Economy 3 0 3 8
ECON 526 Law and Economics 3 0 3 8
ECON 527 Behavioral Economics and Finance 3 0 3 8
ECON 528 Labor Economics 3 0 3 8
ECON 529 History of Economic Thought 3 0 3 8
ECON 545 Current Issues in Turkish Economy 3 0 3 8
ECON 546 Economic History of Modern Turkey 3 0 3 8
ECON 550 Selected Issues in Economics 3 0 3 8
EFIN  518 Islamic Finance 3 0 3 8


To graduate from Economics Thesis Master Program, 33 credits in total and 11 courses having 103 ECTS. Six of these courses are compulsory and five of them are elective.

Course Contents

ECON 503 Microeconomic Analysis

The aim of this course is to provide students an ability to command of the basic concepts, theories and applications of microeconomics and to apply this knowledge to practical problems. For this purpose, first of all, under the topic of individual decision; consumer theories, demand theory, production theory and uncertainty will be discussed. Continuing with game theory, this course will end with analysis of free market structure, public goods and economic externalities.

ECON 504 Microeconomic Theory

This course, which is the continuation of the course in the first semester of the program, will start with the analysis of different market structures and will continue with the examination of issues such as information asymmetry, reverse selection, principal-agent problem which provide the markets to operate effectively. In this framework, the possible effects of these problems on social welfare will be discussed. In the last part of the course, which will be covered by the General Balance Theory, topics such as collective decision making, bargaining based on certain axioms and economic mechanism design will take place.

ECON 505 Macroeconomic Analysis

This course will be started within the first semester and will start with the definition of the main topics of macroeconomics within the framework of different economic schools and then continue with national income accounting. Afterwards, topics such as dynamic aggregate demand and aggregate supply, IS-LM models, monetary and fiscal policies, investment and consumption decisions, macroeconomic decisions in open economies, exchange rate and interest rates will be covered in the framework of neoclassical and Keynesian economics.

ECON 506 Macroeconomic Theory

This course, which is the continuation of the course in the first semester, will be explained in more detail in terms of the functioning of money and foreign exchange markets and methods of struggling against inflation in an open economy. In this frame, Marshall-Lerner condition, Keynesian Theory, the function of money and capital markets in open and closed economies, macroeconomic models and rational expectations in these models, politics effectiveness and dynamics of macroeconomic modeling will be discussed.

ECON 510 International Economics 

In this course, students will learn about the mechanism of international economic and commercial activities, the main reasons for the emergence of these relations, and the main theories trying to explain these relations. It will also touch upon the economic policies developed to make international economic activities and trade more effective and to develop them, the factors that determine foreign exchange prices, the basic components of balance-of-payments balance, the factors determining foreign trade, basic shapes and determinants of capital flows between countries and how globalization affects the international economy.

ECON 511 Innovation Economics 

This course mainly analyzes the relationship between economic development and knowledge-based economic structure and the impact of innovation on competitiveness. The role of creativity in the process of achieving sustainable competitive advantage is analyzed by examples from individuals, companies and countries. In addition, current applications and case studies are addressed, using global data clusters, in which the theoretical models of research and development, intellectual property rights and patent economics are passed on to the students through the innovation indicators.

ECON 512 Game Theory 

This course, which based on the game theory frequently used in economic theory applications, will provide basic information about games under different assumptions and their equilibrium conditions. In this context, normal and consecutive games in which there is no co-operation between the participants will be explained on the basis of whether participants have complete and perfect knowledge of the competitions and conditions of the game. How these games are used in economic theory and applications will be addressed through examples. Further topics such as experimental game theory and Markov-perfect equilibrium will also be discussed.

ECON 513 Monetary Economics 

In this course, we will focus primarily on the fundamental functions of money in an economy and the factors that affect money demand. Then, the issues such as money supply, the basic components of monetary policy, the role of central banks in the economy, and the process of determining policy and market interest rates will be discussed. Different concepts and models of the monetary transmission mechanisms used to explain the real economy effect of monetary policy will be explained and the problems such as how to determine the optimal institutional and operational monetary policy will be addressed. Additionally, some disruptions that may arise in financial markets and macro-financial links will be touched upon.

ECON 514 Industrial Economics 

This course will be based on possible disruptions to the market and will use different models of optimization and game theory to model different market structures outside of the full competition market such as monopoly, oligopoly, and card, as well as models of various price and price strategies of companies operating in such market structures . Antitrust regimes and competition policies to prevent social welfare losses that may arise from such market structures will be studied with a global perspective.

ECON 515 Energy Economics 

In this course, the theoretical and empirical approaches of the main energy sources such as oil, natural gas, coal and electricity will be examined and the theoretical and empirical approaches of the processes in the spot and future markets will be examined. Additionally, impacts of the usage of energy and natural resources on economic development will be discussed.

ECON 516 Public Economics 

The main theme of this course are the basic concepts of fiscal policy, finance policy applications, comparative analysis of market economy with public economy, public goods. Issues such as decision-making processes of public finance in the framework of models such as voting, contract and game theory, economic analysis of bureaucracy, local and central budgets, budgeting process, development of public expenditures, public incomes and welfare will also be discussed.

ECON 517 Time Series Econometrics 

In this course, not only qualitative advanced forecasting methods are addressed, but also different time series modeling approaches, regression analysis and econometric modeling are explained. In the content of the course, the characteristics of the time series will be emphasized, and the model selection will be taught to make the best guess for the structure of the given data. Software programs, namely E-views and RATS, will be used during the course work.

ECON 518 Panel Data and Cross Sectional Models 

In addition to the course on the analysis of time series, this course aims to acquire the skill of developing different models for understanding the relations between economic variables. In the course, different approaches used in modeling of panel data, problems encountered in estimating these models and related econometric methods are explained. In the course, applications will be made using STATA, statistical software program.

ECON 519 Environmental Economics 

This course based on the mutual interaction between environment and economics, will discuss how economic operation should be regulated optimally in order to achieve a balance between economic activities and other social objectives. . Generally using microeconomic theories and practices, this course  has the main theme of how to optimize economic efficiency and productivity with sustainable environmental policies.

ECON 520 Development Economics 

In this course, basic definitions, concepts and theories about participatory development will be explained. In this framework, various indicators of economic development and growth will be addressed, as well as criticisms of different economic theories attempting to explain economic development, as well as criticisms of the concept and theories of development. With this basic information, the structural transformations of economies, industrialization, agricultural transformation and environment, development policies and market relations will be discussed from an empirical point of view.

ECON 521 Transport Economics 

The aim of the course is to provide the students who are interested in this area as a whole with the ability to make economic analysis of the transportation sector and to understand the contributions of the transportation sector to the economic development. The course also seeks to develop an understanding of various analytical techniques of managerial economics that facilitate decision-making in the areas of production and costs, demand, pricing, investment and government regulation and intervention in the transport sector.

ECON 522 Real Estate and Urban Economics 

The aim of this course is to examine the economic activities in the real estate, construction and building sectors from an academic point of view and to analyze urban economics. At the beginning of the course, economic models and applications for the housing sector and financing are covered, followed by the construction and operation economics of commercial real estate. This model of models and applications of real estate products in banking and capital markets is studied in detail, with simulations and calculations of some of these products. This course also focuses on the financing dimension of the issues such as smart urbanization, urban transformation and green building, and its impact on economic growth.

ECON 523 Islamic Economics and Finance 

This course is an introduction to understand the Islamic economics and finance. The aim of the course is to teach the main theories and practices of Islamic economics and finance using basic concepts. Starting from the origins and historical background of Islamic Economics and finance to understand the paradigm, this course then examines the Islamic rule system and financial instruments. In the main part of the course, Islamic capital markets and the banking sector are emphasized. This course also focuses on Turkey’s experience and shows how Islamic economics and finance is positioned within the Turkish financial sector.

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